Coronavirus Slowdown Prompts Visa to Delay New Fee Structure
March 27 2020 - 9:11AM
Dow Jones News
By AnnaMaria Andriotis
Visa Inc. is delaying the rollout of a new fee structure during
the coronavirus slowdown.
The fee changes, in the works for months, would raise the cost
of credit-card transactions for many merchants, while lowering them
for others. They'll take effect in July instead of April.
"Visa is committed to partnering with our clients during this
difficult time," said a Visa spokesman. "We are actively
implementing and considering a number of ways we can proactively
support our clients to ensure the stability, security, reliability
and resiliency of the digital payments ecosystem."
Visa and other card networks set the interchange fees that are
collected by banks that issue credit cards. Interchange fees help
banks fund credit-card reward programs.
Write to AnnaMaria Andriotis at annaMaria.andriotis@wsj.com
(END) Dow Jones Newswires
March 27, 2020 08:56 ET (12:56 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Visa (NYSE:V)
Historical Stock Chart
From Mar 2024 to Apr 2024
Visa (NYSE:V)
Historical Stock Chart
From Apr 2023 to Apr 2024
